oil prices

Gas prices continue to slide downhill.

"At the pump, a gallon of regular gasoline fell another 4.3 cents overnight to a new national average of $2.504, according to auto club AAA, the Oil Price Information Service and Wright Express. Gas now costs about half as much as it did on July 17, when prices hit a record $4.114 a gallon.

Prices closed at $100.64 a barrel on the last trading day in September. That gives oil the biggest monthly slide since the launch of the Nymex crude futures contract in 1983. The previous record was a 30 percent drop set in February 1986."

And then there was this tasty bit of information:

"Analysts believe oil price hawks like Venezuela and Iran need prices at near $100 a barrel to balance their national budgets, while Saudi Arabia and other members would like to see prices stabilize at around $80."

Those poor OPEC jerks.... They're going to cut production to help stabalize the prices.

I'm glad that record high prices this summer was able to fatten the wallets of someone:

"Altogether, Chevron, Exxon Mobil and their rivals BP, Royal Dutch Shell and ConocoPhillips posted earnings of $44.4 billion for the quarter, up 58 percent from the same time a year ago."

We're all a happy bunch of people.